METRO MANILA COLLEGE
U-Site Brgy.Kaligayahan, Novaliches, Quezon City
BASIC EDUCATION DEPARTMENT
Senior High School (Grade 11)
1ST SEMESTER S.Y. 2022 – 2023
Business Ethics and Social Responsibility
1st Quarter Summative Assessment
Name:
Score:
Year & Section:
Date:
Test I. Identify what is being described in each statement.
___________________1.
___________________2.
___________________3.
___________________4.
___________________5.
___________________6.
___________________7.
___________________8.
___________________9.
__________________10.
It is an organization that provides goods and services coming from economic
resources to offer to customers in exchange for money or other goods and
services.
It refers to the amount or percent of ownership in a corporation.
It refers to the value of treating people equally and in a standard and consistent
basis.
He believed that the only life worth living is the one that was carefully examined.
These are sets of principles that help interpret everyday reality.
It means “way of the gods.”
It is the oldest monotheistic religion that is still being practiced in the world today.
This is a business owned by two or more persons who put themselves to
participate in a business where they contribute money and effort with the intention
of dividing the profit between themselves.
It is a form of partnership wherein partners have unlimited liability.
It is the simplest form of business organization.
Test II: Choose the letter of the correct answer
________11. What is fairness?
A. Something that is beneficial to you
B. Something that is beneficial to all
C. The quality of treating people equally
D. None of the above
________12. What do you think is the benefit of practicing good business ethics?
A. Low morale of employees
B. Lack of trust
C. High employee retention rate
D. Decrease in product sales
________13. Buddhists follow the teaching of _______________
A. Indira Gandhi
B. Abraham
C. Brahman
D. Siddhartha Gautama
________14. Hindus believe in __________
A. Ahimsa
B. Karma
C. Reincarnation
D. All of the above
________15. Which of the following religions pursue the right livelihood?
A. Buddhism
B. Hinduism
C. Judaism
D. Taoism
________16. What form of business organization is described in the following statements?
I. “I am the owner of my business.”
II. “I assume all the risks of doing business.”
III. “I keep all the profits of my business.”
A. Corporation
B. Sole Proprietorship
C. Partnership
D. Cooperative
________17. If your brother wants to engage in a business that is more service-oriented rather than profitoriented, which of the following forms of business organization is suitable for him?
A. Corporation
B. Sole Proprietorship
C. Partnership
D. Cooperative
________18. Which of the following is the main purpose of engaging in business activity?
A. Monetary
B. Adventure
C. Service
D. None of the above
________19. This approach makes a person more honest and sincere.
A. Accountability
B. Fairness
C. Transparency
D. None of the above
________20. Which of the following is an example of an unethical business practice?
A. False commercials
B. Overbilling
C. Low credibility
D. All of the above
________21. Which of the following is the ethical principle which focuses on the greatest good for the
greatest number of people?
A. Ethical egoism
B. Deontology
C. Utilitarianism
D. None of the above
________22. Analogy: Plato is to Athens as Epicurus is to _____________
A. 46 C.E.
B. Role model
C. Parallel lives
D. Boetia
________23. Lando practices punctuality even though his colleagues always arrive late. Lando follows the
principle of which philosopher?
A. Socrates
B. Plato
C. Plutarch
D. None of the above
________24. In Hinduism, this law states that suffering, disease, poverty and other hardships are brought
about by evil doings in a person’s past lifetime.
A. Law of Brahma Sutra
B. Law of Reincarnation
C. Law of Karma
D. None of the above
________25. This belief system led the Japanese to respect nature, people and spirits found in nature.
A. Confucianism
B. Taoism
C. Buddhism
D. Taoism
________26. This religion puts restriction on misleading advertisements
A. Christianity
B. Islam
C. Judaism
D. None of the above
________27. If you are a Muslim, which of the following considered unethical according to your religion?
A. Charging or accepting interest
B. Misleading or false advertisement
C. Engaging in meaningless talk
D. None of the above
________28. Professor Rodrigo is opening a publishing company to publish and distribute books throughout
the Philippines. He feels that his idea will be successful because the textbooks will be based
upon a revolutionary new format of accounting education. Rodrigo has extended an invitation
to all his students, friends, and colleagues to invest in his new business for a mere P1,000 each.
What form of business is Professor Rodrigo proposing?
________29.
________30.
________31.
________32.
________33.
________34.
________35.
________36.
________37.
A. Corporation
B. Sole Proprietorship
C. Partnership
D. Cooperative
What is a corporation?
A. A business registered as an artificial person under the operation of law.
B. A business entity owned by a person called a proprietor
C. An economic activity conducted for profit
D. None of the above
Which of the following is true about partnership?
A. Partnership has a limited life
B. In partnership, owners may contribute money, property or skills
C. Unlike corporations, the liability of partnerships are unlimited
D. All of the above
In a corporation, stockholders share profit, but their liability is limited to
A. investment
B. production
C. theft
D. distribution
Which of the following situation exhibits fairness?
A. A boss listening to both sides of the story before judging who is right and who is wrong.
B. An employer giving 13th month pay to all his/her employees
C. A person paying the right price for a product purchased or for a service received.
D. All of the above
Company X hires external auditor to assess and evaluate their financial statements. If the
auditor finds out any discrepancy, the company will make sure that the accountants and other
financial executives as part of their responsibilities in the company will make the necessary
adjustments. Which principle is being applied in this situation?
A. Fairness
B. Accountability
C. Transparency
D. All of the above
A businessman operates a medical store in a tiny town that sells face masks. Because there is a
high demand for the item because of the COVID-19 pandemic, he charges his customers
irrational amount by doubling the price of the face masks. This situation enrages the
community. This business practice is most likely:
A. Because it is not illegal for the business owner to establish prices depending on the market,
it
is ethical.
B. Because the owner is only concerned with the consequences of his decisions to his business,
it is ethical.
C. Unethical because business operates in a community and communities have expectations for
behavior of individuals, groups, and businesses.
D. None of the above
Your company has a policy that prevents employees from accepting gifts. The policy also
requires that you inform your manager about the gift. A supplier you have known for several
years offers you a hotel gift certificate. Which of the following is the most ethical thing to do in
this situation?
A. Accept the gift and tell your manager afterward
B. Accept the gift and do not tell your manager about it
C. Inform your boss and wait for approval
D. None of the above
In a team meeting, your boss congratulates you for a project that was done by someone else
from the team. If you will apply Confucius’ golden rule in this situation, which of the following is
the ethical thing to do?
A. Stay silent in the meeting and later approach your co-worker you and say that you are sorry
the boss did that.
B. Explain to boss immediately that it was not your work and give credit where credit is due
C. Never say anything about it
D. None of the above
Analogy - Buddhism : India
Confucianism : __________
A. Japan
B. China
D. Israel
E. Egypt
________38. Mely works as a secretary to the president of a large corporation. During work hours, Mely does
not engage in gossip with her co-workers because her religion restricts her from engaging in
meaningless talk. What is the religion of Mely?
A. Taoism
B. Animism
C. Shintoism
D. None of the above
________39. Manuel L. Quezon High School implements guidelines in conducting school activities like field
trip. Which principle is applied in this situation?
A. Accountability
B. Transparency
C. Fairness
D. None of the above
________40. Which of the following statement is true about Taoism?
I. It is a Chinese philosophy and religion
II. It is a naturalistic model of how people should live
III. It teaches that there is holiness in the universe
A. I only
B. II and III only
C. I and III only
D. I and II only
Test III: Classify each statement as either TRUE or FALSE.
________41.
________42.
________43.
________44.
________45.
________46.
________47.
________48.
________49.
________50.
A corporation has powers, attributes, and properties expressly authorized by law
In general, corporation’s shareholders are liable for any debts incurred by the corporation.
Partnership is the most stable form of business among other types of business organizations.
Transparency is shown when one hides the records from the other shareholders of the
company.
Bong is exhibiting transparency when he holds an open bidding for the company’s next project.
Lito should pay the money collection which he lost in the restaurant, being the treasurer of the
lending company where he works
According to Aristotle, the responsibility of the leader is to create an environment in which all
members of an organization have the opportunity to see their own potential.
Confucian values can help in developing corporate executives who are true leaders of society,
with a sense of justice and moral power.
Central to Shintoism teaching is the belief in the existence of kami.
For the Hindus, wealth is not the ultimate goal.
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ENDS HERE
Business Ethics and Social Responsibility
Answer Key
Test I:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Business
Stock
Fairness
Socrates
Belief System
Shinto
Judaism
Partnership
GENERAL partnership
Sole proprietorship
Test II
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
36.
37.
38.
39.
40.
Test III:
C
C
D
D
A
B
D
A
A
D
C
D
A
C
D
C
A
A
A
D
A
D
B
C
D
B
B
D
A
D
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
TRUE
FALSE
FALSE
FALSE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE